The Plant-based market has a key trend due to health benefits and safety associated with plant-based products. Plant-based meat products are significantly replacing conventionally processed meats products such as burgers, sausages and nugget. Plant-based have major products according to different type such as plant-based proteins, meat substitutes including plant-based milk, soy protein ingredients, pea protein, wheat protein, grain silos & storage. The rising health concern and consumer preference for a vegan and vegetarian diet are driving the market growth. Moreover, these plant-based products help in building better immunity. In addition, increasing population of lactose intolerance worldwide and demand for non-dairy products is increasing, which ultimately fuel the growth of the plant-based market. As a result, an increasing number of consumers are switching to plant-based diets to protect animals, as well as changing taste preferences. Asia Pacific offers lucrative growth opportunities to the major manufacturer for launching innovative products. The plant-based food market is expected to grow at a significant rate in the upcoming years. Plant-based meat contains lower levels of saturated fat, cholesterol, and calories than animal-based meat. They often contain higher levels of micronutrients, such as zinc, iron, and calcium. Moreover, consumers are focusing on their lifestyle choices and purchases having an impact on our planet. Increasing demand for rich protein-based food for having nutritional benefits coupled with consumer’s preference for cost-effective products, further fuel the demand for plant-based meat products.
The pandemic has redesigned plant-based market from the global economic to manufacture products category, price and stock availability as per consumer behavior. The health concern in consumers has led to increase in production and supply of plant-based products. Also, key players are adapting various strategies due to sudden growth of plant based market in COVIID-19 outbreak. The COVID-19 pandemic and negative association with animal based food has ultimately helps the plant based market to growth COVID-19 situation.
